Ontario is preparing to contest a potential 100% tariff on foreign films entering the U.S., as proposed by President Trump. Minister of Economic Development Vic Fedeli emphasized the seriousness of this threat to Ontario's film sector, particularly noting his district's production of popular Hallmark movies. Amidst the U.S. tariff threat, Finance Minister Peter Bethlenfalvy announced a significant increase in the Ontario Made Manufacturing Investment Tax Credit, aimed at bolstering local businesses affected by such policies.
"We'll suit up, just like we have for every other particular mention of a tariff, head back down to Washington and fight them one by one," he said.
"This is a direct assault to our film sector all through Ontario," he said.
"There are many industries that are under attack. We have to face the reality that this is a policy choice coming out of south of the border," he said.
"The credit is a refundable corporate income tax credit for corporations on qualifying investments in buildings, machinery and equipment, according to a provincial news release from 2023."
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